Maravi

(CNN, Fortune) FORTUNE 500: A NEW No. 1

COMMENT - Big winners of the Oil Wars: The Rockefellers (CFR, PNAC, Bilderberg Group, Trilateral Commission). Once called Standard Oil (est. 1870), they are now Chevron and Exxon. And of course JP Morgan. And Exxon Mobile just moved into the Forbes 500 number one slot, edging out the Walton family's Wal-Mart. From CNN/Fortune Magazine (Forbes) Mr. Rockefeller would like to thank the people of Iraq, Libya and in fact the world, for their generous contributions to his personal fortune. The fact that they had no choice in the matter is for historians to study, as it has been for the last 150 some years. - MrK

FORTUNE 500: A NEW No. 1

1. Exxon Mobil
Exxon Mobil
Get Quote: XOM
Financials: Latest Results
Rank: 1 (Previous rank: 2)
CEO: Rex W. Tillerson
Was this company a 2011 top stock?

It's tough to beat the kind of year Exxon Mobil had in 2011. Shares rose by 20% and profits surged by 35% to $41.1 billion. Revenues jumped 28% to $452.9 billion, helping Exxon reclaim the top spot in the Fortune 500.

Exxon has certainly benefited from rising oil prices, particularly during the last quarter of 2011. But the company has also positioned itself well to capitalize on the latest controversial trend in domestic energy production: Fracking. Exxon now produces just about as much gas as it does oil, thanks to its $35 billion purchase of XTO Energy in 2010. As CEO Rex Tillerson told Fortune recently, with world demand for energy expected to rise considerably during the coming decades, the shale gas party has just begun.

Labels: EXXON MOBIL, NEOCOLONIALISM, POLLUTION

posted by MrK @ 11:06 PM